Managed Care Winners and Losers: WellPoint

Updated from 3:52 p.m. ET

Managed care stocks rallied Wednesday as investors reversed what some analysts saw as overselling in the wake of worries over Medicare.

Several health insurers saw their stocks approach 52-week lows over the past week, after preliminary Medicare Advantage reimbursement rates for next year were announced and President Obama unveiled a proposed budget that includes smaller payments for the program.

Some analysts have said managed care stocks will remain volatile until more details of Obama's plans emerge....